Money Transfer Systems Integrator

Connecting to CyberPlat® a Bank will get an access to most money transfer systems in Russia. Thus the Bank gets an opportunity to render services to customers of different money transfer systems, and a customer can choose a system at their option.

How does it work?

The flow is abundantly simple and will take almost no material investment on the Bank’s part. On concluding a contract with PLATINA Ltd., the Bank receives free of charge the necessary software uniting different systems under a common interface, which also functions as an interface for collecting service fees from the customers. A transfer can be relayed either through the Bank’s operator or through self-service terminals belonging to partner banks of CyberPlat®.

The money transfer without creating a bank account is subject to Federal Law No.115-FZ «Against Laundering of Illegal Funds», which requires the customer to be duly identified. That is why, before transferring money through self-service terminals, the customer will have to register at a partner bank of CyberPlat® system.

The procedure is as follows:

• The Customer submits his/her passport or other ID valid under the effective law and his/her bank card issued by any bank. If the customer has no bank card, they can receive such on the spot.
• The operator enters the customer’s data into CyberPlat® and assigns the customer a code. The customer also informs the operator of the recipients names (up to 5 entities), the money transfer system, and (if necessary) the location of the transfer destinations. Consequently, the customer will be able to transfer money through selfservice terminals to the recipients named during the registration.
• After the registration, the operator issues the assigned code and PIN (the system password not meant for cash withdrawal from ATMs) to the customer.

This procedure takes place only once.

Terminal Transfers

Thanks to the state-of-the-art technologies employed by CyberPlat® the bank customers who have to transfer money often, will be able to do it through self-service terminals connected to CyberPlat®. Unlike banks, the terminals are in an easy access at frequented places, and are in operation 7 days a week round the clock.

To perform a transfer through a self-service terminal you need to:

• Find a terminal belonging to a bank which is connected to CyberPlat® (it does not need to be the same bank you registered at).
• Enter your card number and PIN into the terminal (it is NOT the PIN you use for cash withdrawal). This will identify yourself to CyberPlat® and money transfer systems as stated under the existing law.
• Choose a recipient out of the list created in your registration (up to 5 recipients).
• Insert the money into the banknote slot of the terminal.
• Confirm the transfer.
• Receive and keep the receipt.

After that the terminal relays the transfer data to CyberPlat® stating the identified sender and the address of the recipient. CyberPlat® then relays this data to the respective money transfer system.

MTSI easily integrates with the “client-bank” systems and provides bank clients with an opportunity of sending money transfers from their home, office or mobile computer.

Implementation of MTSI instantly expands the geography of money transfers and leads to fast and considerable growth of the bank’s client base.

After the implementation of MTSI the bank immediately gets access to seven money transfer systems and for working with Western Union and MoneyGram it is required to have additional permits from these systems. At the present time, 37 contracts on MTSI implementation have been signed, including those concluded with Russian Standard Bank and Joint Stock Company «Kazpost», and another 39 contracts are being approved.

Optimizing the bank operator’s work

CyberPlat® features a convenient interface in which the operator is able to manage several transfer system customers at one window. It takes the operator only a few minutes to execute a transfer with the CyberPlat® money transfer system Integrator, and the cash instantly becomes available for the recipient.

The time needed for personnel training can be dramatically reduced thanks to the Integrator: where there used to be several interfaces for different systems, there is now only one. The training costs, operators’ workload and error risks are significantly reduced.

Financial Efficiency

A bank using CyberPlat® integrator increases the cost effectives of the IT structure, servres and communication channels by using a single interface for several systems instead of multiple. Instead of several contracts with different bank systems, the bank needs only one with PLATINA and CyberPlat®, which reduces cost by using fewer personnel.

Use of self-service terminals also adds to cost-efficiency, since the operatorprocessed cash payment requires a special room with $20,000 equipment plus rent and operator’s fees. The terminal costs are only $3,000 for the terminal (plus 1 square meter rent if the terminal is not set up right in the bank).

* Approximate costs in the case when the self-service terminal is placed in the bank office without a cash operating unit and is used instead of a cash desk

Moving Bank Front Offices to retail outlets

If a bank uses self-service terminals, the business can be moved to retail outlets. Therefore, front offices will be free from micro-payment customers which will make way for high-profit customers, and the operator will have more time to engage in remunerative operations; moreover, operation costs per transfer will lower. The Bank expands its retail outlets at minimal costs getting closer to the customers both in space and in time since the easy-toaccess terminals operate round the clock.

• integrate a high-tech low cost customer service (self-service terminals);
• get closer to the customer with the help of easy-to-access 24-hours terminals;
• increase the number of transfers and payments by increasing service time and getting closer to the customer;
• get lower operational costs by reducing the operators’ and cashiers’ workload;
• expand retail business and service range;
• get additional earnings through bank cards issued to customers at registration.